Re: Re: Should we be buying in Spain in 2011?



The reality is there are always differing views of present and future market trends. That’s what makes market investing an interesting business.
A one dimensional view I would agree is a route to loss. I try and study market trends from a multi-dimensional prospective and I’m fortunate enough to have the time and space to do that.
I also participate in these forums discussions in the hope I can prevent people from entering the bear trap called Spanish property ownership and avoid the miseries so many have experienced.
If I offer advice it’s usually in an area where I have some knowledge or expertise. I don’t pretend to have all the answers and if I recognised any signs of market improvement in the short term I would say so.
I have no vested interests apart from having been a successful investor in property in Europe over the last 35 years. I sold when I saw markets starting to turn and everyone else was piling into it and also bought at that same stage when I felt markets turning.
John D Rockefella had a great saying. He said ‘when my shoe shine boy starts asking me for share tips I know it’s time to sell’. The point being that whenever markets create a bubble through demand overheating happens and a crash is inevitable.
That stage came in Spanish property when developments were selling off plan like hot cakes before they were built.
Markets are actually not that difficult to read if you have a little experience, time and insight.
I hope in some small way this forums can contribute towards that.
Chris McCarthy’s interest lies in selling. Nothing wrong with that but it would be difficult to describe that as anything but one dimensional.